Assets from the Graveyard of History

Assets that have been already transferred will reduce the sales price of the government's shares in Lippo Bank. But IBRA is just keeping quiet.

September 9, 2003

ON Friday two weeks ago, at a Lippo Bank branch office in Jakarta, almost all the employees were wearing black. This was their way of showing their concern and demanding that members of the board of directors implement efficiency measures properly.

This year, their wages are only going up by between 2 percent and 6 percent. Security guards have to be satisfied with 2 percent. At the same time however, there is one area that has a great deal

...

More Articles